Monday, June 01, 2009

Social Media Business Analytics Opportunities: Comments, Quizzes, Surveys, and Games:

If you are in Facebook, Twitter, Linkedin, or any social media you have seen a large number of friends post comments, or take quizzes, surveys, and play games. What the implications of the use of these gadgets in the area of business analytics? The implication is a new wave of opportunities by leveraging the information gathered from these gadgets to increase revenues and profits, and reduce costs. These gadgets may be silly but they contain a troll of information.
1. Advertisers can use segmentation to create robust profiles of customers. Also, they can use cross-products predictive modeling, and spatial (geographical) benchmarking.
2. Marketers can use CTR (Click-thru-Rate) outlier analysis, GRP (Gross Ratings Points) time-series, and TRP (Targeted Rating Points) predictive modeling.
3. Social Media companies can use log-on outlier (to make capacity planning decisions). Also, they can do contribution (users that contribute) segmentation, and use time-series to determine time spend online.
4. Gaming companies can predict revenues by using predictive modeling, and outlier analysis to detect fraud and abuse. Also, they can control inflation using virtual economy tools.
5. Online customer service can do TPC (Time-per-Call) outlier analysis, and segmentation to create profiles based on average cost. Also, they can use predictive modeling to predict and control costs.
6. Blogging sites can use statistical control process to determine best practices in customer reach, as well as predictive modeling. Also, they can create strong branding variables.
The above-mentioned analytics combined with a powerful 3D visualization allows new media companies to increase their ROI. My advice to new media companies is if you want to increase profitability you must use advanced analytics techniques to analyze information on quizzes, surveys, and games.
Contact author at:

No comments:

Business Analytics

Business Analytics

About Me

My photo
See my resume at: